Beauty shopping trends of 2024

Do we invest more in skincare or hair care? In luxury brands or sustainable ones? Do we still go to physical stores or prefer the convenience of online? These and many other questions are answered by the Scalapay report dedicated to the shopping trends of 2024. The company, founded in 2019 by Simone Mancini, which enables installment payments for purchases, has cross-referenced proprietary and external data, with a specific focus on Italy, France, and Spain. They discovered how consumer preferences are continuously evolving and that, despite economic forecasts indicating a global slowdown and encouraging caution and savings, e-commerce is growing, especially in the fashion and beauty sectors.

Where, when, and what do Italian consumers buy the most?

Regarding beauty, a global sales growth of 6% per year is expected, with e-commerce projected to represent a quarter of the market by 2027. Specifically looking at our country, the average value of beauty orders recorded by Scalapay in Italy in 2024 is 99 euros, with searches particularly oriented towards make-up, hair care, and fragrances. In terms of savings, Italians spend more during seasonal and promotional events like Black Friday or summer sales, mainly ordering on Wednesdays between 12 PM and 2 PM.

Lipstick effect, efficacy, and loyalty

Consumers are more cautious in their spending but still treat themselves with gifts and purchases on special occasions, small luxuries to pamper themselves. This is the lipstick effect, which, even in the current variable and uncertain economic scenario, confirms that during periods of crisis, people tend towards small, accessible but satisfying self-care products or rituals. Thus, lipsticks, creams, serums, shampoos, and blushes are all good, as long as they are effective. Loyalty is no longer taken for granted, as consumers, especially younger ones, are increasingly open to experimenting with new products, preferring those that offer genuine results rather than the most well-known ones. Only 40% of respondents declare loyalty to a brand, while 69% show a tendency to test new products every six months, for example, in hair care, where spending is driven by current needs rather than brands.

Generational disparities in the beauty world: Millennials vs. Gen Z

The Scalapay report reveals generational differences in shopping. As mentioned earlier, consumer loyalty is no longer automatic, particularly among Gen Z, who, at 50%, research beauty products before making a purchase and tend to lean towards new offerings that deliver genuine results. Unlike Millennials, younger consumers are less likely to believe that expensive products are more effective, showing a pragmatic, careful, and informed approach to shopping. For both generations, values like sustainability and social responsibility are important, with a preference for organic/natural products and innovative brands.

Health and Wellness: A self-care boom

The pandemic has taught us to pay attention to our physical and mental health. This has resulted in a boom for the wellness industry, currently valued at 1.5 trillion dollars, which is set to expand further, with an annual growth forecast of 5% to 10% by 2027. Regarding Italy, according to Scalapay data, the average value of health and wellness orders placed in 2024 is 80.13 euros. Leading this trend are mainly younger generations, with 73% of Gen Z and 65% of Millennials showing a strong interest in health, compared to 54% of Gen X and 47% of baby boomers. Customers are becoming more demanding. They prefer holistic approach treatments and expect visible results, supported by studies and scientific tests, as well as quality ingredients and "clean" products free from artificial additives. Whether it’s about supplements (in Italy, there is a 150% increase in supplement searches compared to 2022) or more complex treatments. Another interesting fact: there is growing interest in wearable gadgets like fitness trackers, a market that is predicted to reach $182.90 billion by 2030, while in Italy, searches for this category in 2024 have increased by 210% compared to 2022.